Helen Fisk, CEO, iDefigo: You really need to choose your channel wisely in the UK. It’s a big market, we’re small fish coming from New Zealand and we could easily be swallowed up.
Rob Addy, VP Market Research Technology & Services, Gartner: So most people, when they look to enter new markets, they focus on market size and growth trajectory and they go for the biggest and the fastest growing markets because they believe that’s where low hanging fruit will be. Sorry, there is no such thing as low hanging fruit.
It’s all about really finding out what the demographic split in the particular market is for your sweet spot, but once you’ve identified the sweet spot, is then finding the market within which there are the largest number of those types of organisations and that’s the real trick. One of the things a lot of people get focused on is they focus on being better. Being better is nice, but it’s not always mandatory, you know, just being different is often enough. And so how can you make yourself stand out? How can you have the one feature, the one capability, the one service element that really makes you interesting? That’s what we need to think about.
If you’re entering new markets, more often than not it’s going to involve a channel play and so what’s your value story for the channel? If your customer value story and your partner value story have anything in common, then one or both of them is wrong.
Grant Johnson, Director, Rocketspark: The main thing I learnt and I was probably just thinking objectively about your market size, so not just looking at the total number but what the true market size is in terms of the business opportunity and probably – the other thing is actually just meeting with other interesting New Zealand companies that are doing great things and that’s probably what I really enjoy, is coming to an event like this.
Andreiko Kerdemelidis, CEO, Visionslive: It’s a really interesting insight that the market growth rate and the market size are actually not the most important factors and that’s actually quite relevant. Also, for when you’re presenting, to say an investor, particularly for a business like ours, you know, where there’s a lot more on relationships and affinity that you can build like in a market and it’s less about how massive that market is going to be.
Rob Addy, VP Market Research Technology & Services, Gartner: It’s all about how to make real people in the real world who are facing real challenges and have real problems and potentially have real opportunities that they want to take the benefit of as well, now how do you help those real people to become really, really successful? How do you make, you know, individuals successful? Because we’re not at machine to machine commerce yet and so it’s very important to make people successful because those are the people that ultimately will place purchase orders and make you successful.